Hungary is set to buy crude oil worth $500 million (€430 million) from the United States in an effort to diversify its energy supply, a government official confirmed Thursday, April 9th.
The announcement follows a Budapest visit by U.S. vice president JD Vance, who came in support of Prime Minister Viktor Orbán ahead of the country’s parliamentary elections.
Hungarian oil company MOL will purchase 510,000 tonnes of U.S. crude oil in the coming weeks and months, according to Orbán’s chief of staff, Gergely Gulyás. He described the deal as a step towards strengthening U.S.-Hungarian energy relations.
The White House noted the transaction as part of broader achievements in bilateral relations reinforced during Vance’s visit. U.S. President Donald Trump has publicly endorsed Orbán’s re-election, and Secretary of State Marco Rubio also visited Hungary earlier this year.
